FAFSA

The Free Application for Federal Student Aid, or FAFSA, is the first step in the financial aid process. The FAFSA helps determine your elibility for federal financial aid, such as the Pell Grant, student loans, and college work-study.

You will need to gather several documents before filling out the FAFSA. These all relate to the current tax year:

• Your 1040 Federal Tax Form
• Your spouse's 1040 Federal Tax Form, if you filed separately
• Your parents 1040 Federal Tax Forms, if you are a dependent
• W-2 Forms
• Child support received or paid
• Welfare benefits received
• Worker's Compensation received
• Any other untaxed income or benefits
• Value of investments
• Total balance of cash, savings and checking accounts

After you have gathered the information listed above, you can fill out the FAFSA online. If you need help filling out the FAFSA, come to the Financial Aid Office on anyFridays and will be happy to assist you.

About one month is required to process the FAFSA, so the earlier you fill out the form the better. You should complete the FAFSA as soon as possible after January 1 prior to the school year for which you seek financial assistance. You must reapply for financial aid each year.

It is possible to complete a FAFSA before completing your taxes by using estimated income. However, if you report estimated financial information on your FAFSA, you may be selected for verification.

Verification is the process of checking the information reported on your FAFSA for accuracy. If your application is selected, the financial aid office is required to collect certain financial documents. Information from these documents is then compared to your FAFSA information and changes made when necessary.

The federal student aid processor will mail you a Student Aid Report (SAR) explaining your eligibility when processing is complete. Use the NC State College Title IV code -- 005313 -- to have your Student Aid Report sent electronically to NC State College.

The Financial Aid Office will use the information in your SAR to determine your eligibility for federal financial aid.